随着抛售压力的增加，Arbitrum 的涨势陷入停滞

Is Arbitrum's Rally Running Out of Steam?

Arbitrum 的涨势是否已经失去动力？

Despite a modest 2.65% gain over the past 24 hours, Arbitrum (ARB) has struggled to sustain its momentum, shedding 2.19% over the week. At the time of writing, ARB was hovering around $1.66, a far cry from its pre-unlock price of $1.9.

尽管 Arbitrum (ARB) 在过去 24 小时内小幅上涨 2.65%，但仍难以维持其势头，本周下跌 2.19%。截至撰写本文时，ARB 徘徊在 1.66 美元左右，与其解锁前的 1.9 美元价格相差甚远。

Selling Pressure Mounts: The Whale Exodus

销售压力渐增：鲸鱼出走

The primary culprit behind ARB's woes appears to be the influx of over a billion tokens into circulation, triggering a wave of profit-taking. Four whale wallets alone were spotted transferring 11.34 million ARB to Binance, worth a staggering $18.82 million. This large-scale movement to exchanges has raised concerns about potential sell-offs.

ARB 陷入困境的罪魁祸首似乎是超过 10 亿代币涌入流通，引发了一波获利了结浪潮。仅四个鲸鱼钱包就被发现向币安转移了 1134 万个 ARB，价值高达 1882 万美元。这种向交易所的大规模流动引发了人们对潜在抛售的担忧。

Santiment Data Paints a Grim Picture

情绪数据描绘了一幅严峻的画面

Confirming the bearish sentiment, Santiment's data reveals a sharp drop in wallets holding more than 1,000 ARB coins, indicating selling pressure. Furthermore, large transactions exceeding $100k have remained elevated throughout the week, with most of them being sell orders.

Santiment 的数据显示，持有超过 1,000 个 ARB 代币的钱包急剧下降，表明存在抛售压力，这证实了看跌情绪。此外，超过 10 万美元的大额交易在本周仍然保持较高水平，其中大部分是卖单。

On-Chain Activity Fizzles Out

链上活动失败

Adding to the bearish narrative, ARB's key on-chain metrics have cooled down significantly. Unique addresses active on the network have plummeted by 25%, and new addresses have followed suit. This decline in network activity suggests waning enthusiasm for the token.

雪上加霜的是，ARB 的关键链上指标已显着降温。网络上活跃的唯一地址骤降了 25%，新地址也随之下降。网络活动的下降表明对该代币的热情正在减弱。

Bearish Bets in the Derivatives Market

衍生品市场的看跌押注

Derivatives traders are betting against ARB, with the Longs/Shorts ratio remaining below 1 on Coinglass. This indicates that more traders anticipate further price declines in the days ahead.

衍生品交易员正在做空 ARB，Coinglass 的多头/空头比率仍低于 1。这表明更多交易者预计未来几天价格将进一步下跌。

Will ARB Continue to Tumble?

ARB会继续下跌吗？

While the future remains uncertain, the combination of selling pressure, whale activity, and bearish sentiment in the derivatives market paints a bleak picture for ARB in the short term. It remains to be seen whether the token can regain its footing or succumb to further declines.

尽管未来仍不确定，但抛售压力、鲸鱼活动和衍生品市场的看跌情绪相结合，为 ARB 的短期前景描绘了一幅黯淡的景象。该代币是否能重新站稳脚跟，还是进一步下跌，还有待观察。